Brief: Forbo Holding Reports Net Sales Of CHF 667.3 Mln In First Half Of 2022 Vs CHF 623.1 Mln

Forbo Holding AG

29/07/2022 05:07

July 29 (Reuters) - Forbo Holding AG  FORN.S :
    * DOUBLE-DIGIT SALES GROWTH IN LOCAL CURRENCIES IN ALL
REGIONS –
NEGATIVE CURRENCY EFFECTS ON SALES AND EARNINGS – RESULTS ALSO
HIT BY SIGNIFICANT RISE IN COST OF RAW MATERIALS
    * NET SALES OF CHF 667.3 MILLION IN FIRST HALF OF 2022
(PRIOR-YEAR
PERIOD: CHF 623.1 MILLION)
    * HALF YEAR OPERATING PROFIT (EBIT) DECREASED BY 4.3% TO CHF
78.6
MILLION (PRIOR-YEAR PERIOD: CHF 82.1 MILLION)
    * EBIT MARGIN CAME TO 11.8% IN FIRST HALF OF 2022
(PRIOR-YEAR
PERIOD: 13.2%)
    * GROUP PROFIT SAW A DECLINE OF 5.0% TO CHF 60.3 MILLION IN
FIRST
HALF OF 2022 (PRIOR-YEAR PERIOD: CHF 63.5 MILLION)
    * SALES GROWTH IN ASIA/PACIFIC WAS AFFECTED BY RENEWED
IMPOSITION
OF COVID LOCKDOWNS IN CHINA
    * RECENT MONTHS HAVE BEEN CHARACTERIZED BY MAJOR CHALLENGE
OF
PERSISTENT STEEP INCREASES IN RAW MATERIAL PRICES
    * FORBO WILL NOT FORECAST SALES OR EARNINGS FOR 2022 OVERALL

Source text for Eikon:  ID:nEQbnGfZ6a 
Further company coverage:  FORN.S 

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